Ford F Executive Chairman Bill Ford said Friday that some large investors and mutual funds may decrease their holdings in Ford and invest in rival General Motors when it goes public again this fall.
“To the extent that we have been the only automaker available in the sector, I am sure that some money will be rebalanced into GM,” Ford said at a business breakfast to kick off the Woodward Dream Cruise sponsored by WWJ Newsradio 950.
Ford has seen a resurgence in 2010, more than doubling the lows of October, 2009 when the stock traded below $7. Shares were higher than $14 in late April, but have since retraced to below $12.
Mr. Ford doesn't appear to be phased by the ebbs and flows of the stock.
“The question is: Is our business moving in the right direction and generating positive cash flow? …If we do that, we will be in great shape,” Ford said.
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